PepsiCo is a giant in the food and drink business, even though people’s tastes change faster than a viral TikTok trend. The company has built an empire on the simple idea of “making more smiles with every sip and every bite.” Its famous brands bring back memories of backyard barbecues, late-night study sessions, and post-workout highs. PepsiCo is based in Purchase, New York, a leafy suburb. It’s not just a company that sells fizzy drinks and salty snacks; it’s a global powerhouse that can handle health trends, sustainability demands, and economic headwinds with the speed of a caffeinated executive. PepsiCo is still going strong as of 2025, with revenues of about $92 billion and a portfolio that spans seven continents. The company mixes old and new ideas to stay relevant in a world that is becoming more aware of what it eats.
A Fizzy Origin Story: From Soda in a Pharmacy to a Global Giant
PepsiCo’s history goes back to a hot summer day in 1898, when a pharmacist named Caleb Bradham made a caramel-colored drink called “Brad’s Drink” in his drugstore in New Bern, North Carolina. In 1903, it was given the name Pepsi-Cola and promised to help with digestion and maybe give you a little extra energy. During World War I, the drink became popular as a lighter drink that didn’t have as much sugar in it. However, it wasn’t until Frito-Lay and PepsiCo merged in 1965 that the modern company was born. Under the leadership of Donald Kendall and Herman Lay, this merger combined the fizz of sodas with the crunch of chips to create a huge, diverse company.
In the years that followed, the company made big moves, like buying Tropicana in 1998 to get some juice credibility, Quaker Oats in 2001 to take advantage of the oatmeal boom, and Rockstar in 2020 to get into the energy drink market. Under the leadership of visionary CEO Indra Nooyi from 2006 to 2018, PepsiCo shifted its focus to “Performance with Purpose,” which meant focusing on healthier options and sustainability. Today, the company is run by Ramon Laguarta, who took over in 2018. It has seven divisions: Frito-Lay North America, Quaker Foods North America, PepsiCo Beverages North America, Latin America, Europe, Africa/Middle East/South Asia, and Asia Pacific/Australia/New Zealand/China. PepsiCo can customize its playbook to fit local tastes, like spicy Lay’s flavors in India and quinoa-infused snacks in Europe.
A portfolio as varied as your snack drawer
PepsiCo’s strength is in its huge brand family, which has a mix of classic and new products that can meet any need. Pepsi, Mountain Dew, Gatorade, and Aquafina are still the best drinks. Frito-Lay is the king of snacks with Lay’s, Doritos, Cheetos, and Ruffles—potato chip empires that make billions on their own. Quaker Oats is good for you, and Tropicana and Naked Juice are good for people who like green juice. Don’t forget the dips (like Tostitos Salsa and Sabra Hummus) or the weird ones like SodaStream for making your own fizz and Bubly for sparkling water with no sugar.
This diversification didn’t happen by chance. PepsiCo has focused on “healthier” innovations since people are avoiding high-sugar sodas. Pepsi’s main product, Pepsi, saw flat sales in North America. Expect a lot of low-calorie snacks and functional drinks to come out in 2025. These will include prebiotic-packed options from recent acquisitions. The company serves everyone from small corner stores to big online stores all over the world. It does this through direct-store-delivery networks and authorized bottlers. It turns potatoes and fizzy water into things that are important to culture.
Putting the Numbers Together: Looking at the Finances
PepsiCo’s books show that the company has been growing steadily, but not in a big way. Net revenue for the whole year of 2024 was $91.85 billion, a small 0.42% increase from 2023’s $91.47 billion. This was due to growth in other countries, but sales in North America were weak. The trailing 12 months ending June 30, 2025, fell slightly to $91.75 billion, a 0.33% drop from the previous year. This was due to inflation and changes in how people spend their money. Recent filings didn’t give a clear picture of net income for 2024, but core constant-currency EPS rose by a few percent, thanks to higher productivity.
As of mid-September 2025, PEP shares are trading for about $170–$180 each, and the company’s market cap is over $235 billion. In early 2025, the company announced its 53rd annual dividend increase in a row, which shows how much it cares about its shareholders. PepsiCo expects its organic revenue to grow by 2–3% and its core EPS to grow by 7–8% in 2025. This growth will come from new markets and high-end products. UBS and other analysts expect EPS growth in the high single digits through 2026 because snack demand is strong. But there are problems on the horizon. For example, starting in July 2025, sweetened drinks will be taxed in Europe at a rate of 0.11 USD per liter. Also, indie brands could hurt profits.
Sustainability and Social Sips: More Than Just Profits
PepsiCo isn’t sitting back and enjoying its success—or its chip bags. The PepsiCo Positive pillar, which started in 2021, promises to cut emissions to zero by 2040. It has already made real progress, like restoring 24 billion liters of water around the world in 2024 through partnerships for conservation. Regenerative agriculture is a major project that works with farmers in Iowa and other states to improve soil health, store carbon, and increase biodiversity. PepsiCo and Unilever worked together on a global regenerative farming project in 2025. They joked, “When farmers thrive, we all thrive.” This isn’t greenwashing; it’s essential for supply chain resilience, especially since climate change is threatening potato yields.
In 2025, the PepsiCo Foundation’s Food for Good program gave 1 million meals to kids and built relationships with community partners before the school year started. In the Middle East, programs like “Tamkinni” help women entrepreneurs by telling stories like that of Saudi innovator Rawan, who switched from law to VR training with PepsiCo’s support. And in India, CEO Laguarta’s recent meeting with Prime Minister Narendra Modi shows how much people are betting on the world’s fastest-growing major economy.
Charting the Course: Acquisitions, Challenges, and the Road Ahead 2025 has been a year of acquisitions for PepsiCo, showing that there is a demand for the “better-for-you” wave. In March, it bought the prebiotic soda sensation Poppi for $1.6 billion, which was a way to get in on the gut-health trend. In January, the $1.2 billion buyout of Siete Foods added snacks that are grain-free and inspired by Mexican food. These steps help PepsiCo compete with companies like Coca-Cola and Monster Beverage and make up for falling soda sales.
But things aren’t always going well. In the second quarter of 2025, North American volumes fell because of worries about the economy and changes in health-conscious behavior, like Ozempic users skipping chips. Regulators are still looking closely at plastics and additives, and there are rumors of labor strikes at important plants. PepsiCo is ready to change because it has 300,000 employees and a lot of money for research and development. Plans for low-sugar launches in early 2025 and more e-commerce sales could start growth again.
As the sun sets on another fiscal year, PepsiCo is still a masterclass in how to change. The company shows that variety—and a little bit of boldness—are the spice of life in business and snacking. Its pharmacy-born fizz and a portfolio that is both healthy and nostalgic are proof of this. Whether you’re opening a cold Pepsi or eating a Dorito, one thing is clear: PepsiCo’s smile game is better than ever.
